SOMETHING BIG JUST HAPPENED IN THE U.S. MINT GOLD EAGLE MARKET
Something BIG just happened in the U.S. Mint Gold Eagle Market this month. Not only have Gold Eagle sales in the first three weeks of January surpassed last year’s total by a factor of three, but it’s also the highest figure since the 2008-2009 Financial Crisis. While Silver Eagle sales have been the main focus of precious metals investors in the past year, Gold Eagle sales are now the new spotlight.
In my last update on Jan 14th, Gold Eagle Sales reached 141,000 oz, compared to 60,000 oz in the same month last year.
Thus, Gold Eagle sales on Jan 14th were already more than double the previous year, with still two weeks remaining in the month. When the U.S. Mint updated their figures earlier today, they reported 62,500 oz sold in the past week. Remarkably, the U.S. Mint sold more Gold Eagles in the last week than they did for the entire month last year. The total Gold Eagle sales as of Jan 25th are 203,500 oz.
As we can see, the U.S. Mint has already sold more Gold Eagles this month than they did for the past three January’s combined. Folks, this is a BIG DEAL. Investors are concerned about the crazy Fed and Central bank money printing and stimulus that will continue to be pumped into the markets to prop up the U.S. and global economies. The fundamentals for the precious metals will only get stronger.
However, we believe the metals and miners’ market prices will fluctuate due to HOW THE MARKET TRADES. We provide updates on the technicals on the markets and metals to better understand the price movements. Unfortunately, most precious metals analysts only forecast HIGHER PRICES. This is a disservice to investors. Nothing goes up in a straight line.
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